Fitch: Asian Banks Gain on European, US Counterparts in Thailand

April 7, 2015 2:00 AM

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Thailand's Foreign Banks: Peer Review here BANGKOK, April 06 (Fitch) Fitch Ratings expects foreign banks to continue to expand their presence in Thailand's commercial banking sector, with the bulk of the contribution coming from banks in the Asia-Pacific region.

The market position of foreign banks in Thailand has already grown sharply in recent years, in large part due to the acquisition of Thailand's fifth-largest commercial bank, Bank of Ayudhya, by the Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU; A/Stable) in December 2013. Foreign banks accounted for 22.2...